If agents don’t do that, the whole thing is skewed. “But it relies on the agent submitting the data. “We know the clearance rate is the total number of properties sold at auction divided by the number listed for auction,” Ms Jacobs said. Whitefox Advocacy co-founder Nicole Jacobs added buyers should recognise how the data was collected. “You’d be better off understanding who is your competition.” But buyers shouldn’t be too hung up on them. “Do they include properties sold prior to auction? Properties sold within 24 hours after passing in? When you break it down, you’ll get a better understanding of what’s actually going on. “There needs to be context around clearance rates,” Ms May said. Buyer’s agent Michelle May said buyers were often distracted by big-picture data, such as median prices and clearance rates.
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